BlockBeats News, April 8th, according to the Financial Times, Iran will during a two-week ceasefire period, require shipping companies to pay a toll fee for oil tankers passing through the Strait of Hormuz in cryptocurrency (Bitcoin) to maintain control of the waterway.
Hamid Hosseini, a spokesman for the Iranian Oil, Gas, and Petrochemical Products Exporters’ Union, said that each tanker must report its cargo information to Iranian authorities via email, after which Iran will inform them of the toll fee amount to be paid, which must be done in cryptocurrency. The fee is $1 per barrel of oil, and empty tankers can pass for free. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions.”
